Commodities
Oil Prices Plummet as US-Iran Tensions Ease
Oil prices plummeted at the start of the week as tensions in the Middle East eased slightly, with the US temporarily halting strikes against Iran and Tehran suspending its responses.
Brent crude fell by about 6% to around $91 a barrel, while West Texas Intermediate dropped below $84. European natural gas prices also sank by as much as 7.8% in response to the easing of tensions.
The US had been targeting Iran for 13 days before pausing its attacks on July 24, raising questions about President Donald Trump's next move.
Iran's army claimed that Tehran had suspended its responses, but the Houthis in Yemen said they had struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on July 25.